DBRS confirms Alliance Pipeline

DBRS said it confirmed Alliance Pipeline Limited Partnership's (Alliance Canada) senior secured notes at A (low) and senior unsecured notes at BBB (high) and the senior secured notes of Alliance Pipeline LP (Alliance U.S.) at A (low).

The trends are stable.

The agency said Alliance continues to report stable earnings and cash flow, underpinned by take-or-pay contracts on a negotiated cost-of-service basis that cover virtually all of the pipeline's base capacity.

The rating confirmation reflects the strength of the shippers, most of which have strong investment-grade ratings, and the continuing importance of the pipeline system that operates on a competitive basis beyond the contract term expiring in 2015, DBRS said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.